- Ripple has defied the SEC, upending crypto regulations.
- Asia has become Ripple’s new battleground.
- RLUSD and XRPL’s developments have hinted at big changes.
Ripple Labs is riding high after a landmark victory against the U.S. Securities and Exchange Commission (SEC) , and the effects are shaking up the entire crypto industry. With a court ruling that XRP is not a security, Ripple now has a clear path to push forward with innovations and global expansion.
In a recent interview, the company’s President, Monica Long, didn’t hold back as she outlined what’s next for the company—including the much-anticipated launch of Ripple’s RLUSD stablecoin and big plans for the XRP Ledger (XRPL). The legal battle, which had the crypto world watching closely, has finally come to an end.
Ripple’s President Highlights Legal Win
The court’s ruling in Ripple’s favor vindicates the company and sets a major precedent for digital assets industry-wide. Long was quick to highlight just how pivotal this moment is for Ripple and the broader crypto market. With regulatory clarity, the company is poised to accelerate its growth, especially overseas, where it’s already making waves.
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The company thrives globally, with 40% of its activity in Asia, boosted by crypto-friendly regulations and success beyond the U.S. There’s still some unfinished business in the U.S., however, as legal experts predict the SEC could file an appeal . They may possibly target secondary market sales, with a deadline looming in October.
Ripple’s legal battles have made headlines, but the company is gearing up for the launch of the RLUSD stablecoin. RLUSD is designed for settlements on the XRP Ledger and is pending approval; it will be released this year.
According to Long, RLUSD and XRP will serve different purposes. The stablecoin is targeted more for institutional use, while XRP continues to power liquidity and transactions. The XRP Ledger is evolving, with the company exploring new ways to supercharge its capabilities.
Ripple’s XRP Adoption Soars
Developers have the exciting potential to implement smart contracts on XRPL through a feature called ‘Hooks,’ which could expand its functionality far beyond payments. Ripple’s global ambitions extend beyond the U.S. and Asia.
The company’s long-running partnership with Japan’s financial giant SBI Group is set to fuel even more XRP adoption in Japan, a key market for Ripple. The company is also beta-testing RLUSD on the XRP Ledger and Ethereum networks.
With legal challenges resolved and new innovations ahead, the company is poised to make significant strides in the crypto industry. As XRP continues to gain momentum, the company’s next chapter looks ready to redefine the digital finance landscape.
On the Flipside
- Ripple’s win isn’t final, as the SEC may appeal, leaving XRP’s regulatory status unresolved.
- Ripple’s success in Asia doesn’t ensure similar results in regions with stricter or shifting regulations.
- Relying on the XRP Ledger in a market dominated by more established blockchains like Ethereum could pose risks for Ripple.
Why This Matters
Ripple’s victory over the SEC is a pivotal moment that legitimizes XRP and signals a shift in regulatory sentiment towards cryptocurrencies, reshaping how digital assets are classified. This clarity could foster innovation and investment across the crypto sector, encouraging other projects to pursue similar advancements and invigorating the entire market.
To learn more about the potential impact of the company’s new stablecoin, RLUSD, on XRP’s price, read here:
Ripple’s RLUSD Ignites Million-Drop Theory for XRP
For an update on the legal battle between Ripple and the SEC, including the upcoming deadline and potential outcomes, read here:
Ripple Gears Up for SEC Appeal as October Deadline Looms
